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the northeast tonight bringing up to a foot of snow in some places. the weather channel's julie martin is at laguardia airport here in new york. julie, good evening. >> reporter: good evening, kate. well, another winter storm for thousands of travelers making their way home from the christmas holiday to ring in the new year. today a winter storm moved quickly northeast dumping snow from the ohio valley up through parts of new england. the storm did not bring with it blockbuster snowfall but it was a quick hitter that came down hard and fast, forcing some commuters to get creative. >> by ski and then by bus later. >> reporter: stranding others. >> once the snow starts, until the plows come by, you're pretty much stuck. >> reporter: the low visibility on highways caused several car accidents and prompted road closures in new york and pennsylvania. creating problems for more than 20 million people traveling between christmas and new year's. the weather channel's mike seidel was in harrisburg this afternoon. >> reporter: for many in pennsylvania this is the third time they had to shovel snow this w
knowledge of christmas carols to the test. >> and julie scardina is here with a winter wonderland of animals. >> oh, a camel. oh, don't kiss that one. oh, do it, i dare you. >> oh! julie. >> and something else. >> they're adorable. we're having crepes for breakfast. >> all after your local news. >>> we're back with today's call of the wild and sea world and busch gardens ambassador julie scardina. >> she's here with a bunch of santa's helpers from around the world. you have the best group of animals today. we should point out. >> who do we have here? >> of course a lot of people don't realize it's warm in some places around the world when they're celebrating christmas. so we thought we'd start there. the place down under. this little joey, only six months old right now, but when he's full grown he's going to be about six feet tall and 150 pounds. >> will he be sweet by then or -- >> well, you know what's great is one of my favorite places at busch gardens is kangaloo where you can go and meet and feed the kangaroos. all of them have been conditioned to be around people. i know. he's at that
more than 4%. fiscal cliff concerns pushed the index to the highest level since july. one bright spot though was on the housing fnt. the monthly case-shiller report found october home prices rose 4.3% mpared with a year earlier. the data giving a late sign of recovery in the housing market is actually gaining traction. first our top story, president obama, cutting his vacation short, flying back to washington, d.c. tonight to work on afiscal cliff deal. now, if the stakes weren't high enough, the treasury department upped ante just a short time ago. it announced the u.s. will hit the debt ceiling on december 31st that is monday. treasury department is undertaking and this is a quote, extraordinary measures to postpone the country's date with the debt deadline, but will this bring a new sense of urgency and motivate politicians to reach a budget deal. joining us now, lindsey piegza, economist with ftn financial and james freeman, assistant editor of "the wall street journal"'s editorial page. james, i will art with you. does the treasury department's statement literally within the last
through similar problems. risk premiums for spain rose until the end of july, so european finance ministers agreed on a new mode of attack -- on july 20, they announced a 100 billion euro bailout to calm spain's blazing financial sector. over the summer, a new idea developed to prevent such disasters in future -- to set up a common bank supervisor in frankfurt. the plan was endorsed just before christmas. >> no one knows what shape it will take, but there's a promise our financial system will become more stable, which is keeping the markets stable today. >> in september, the european central bank director, mario draghi, announced plans to cut the borrowing costs of debt- burdened eurozone countries by buying the bonds. the financial markets were appeased. >> the financial markets' biggest headache was that the eurozone would collapse, and the only one who could prevent this was mario draghi. >> europe's politicians seemed quite satisfied at the end of the year. >> we have a long-term vision for our union. >> the euro is an important measure of this vision. it is still around, and
. the chargers are second-degree murder, assault, reckless endangerment july and child abuse. ware was found on the front steps with his 7-week-old kearri, asking someone to use their cell phone. he said he met stanton was making a strange noise like he was having trouble breathing. he tried to resuscitate him ware realized he was pushing too hard while doing cpr. he admitted holding his son and claimed as he tried to put the child into a playpen the boy fell out of his arms and kearri hit his side and fell to the hardwood floor. we're told he picked up his son and wiped his face and put him in the playpen. >> a store employee shot and killed someone who entered the store on baltimore and annapolis boulevard. the alleged intruder ran out of the store, collapsed and died at the scene. state police say a police officer was forced to shoot and kill a man wielding a hammer. it to happen during a confrontation with three officers. we have the latest in westminster. >> authority city officer who is a ford have year veteran -- four and a half year veteran shot the suspect. a phone call from one of
scott, julie christian son. >> good afternoon, mr. [speaker not understood]. nice to see you. >>> mr. chairman, director rifkin, thank you, and members. thank you for the seeking additional opinion and reach a resident opinion. my name is rod [speaker not understood]. i'm not here as a past president of the hill dwellers. i divert from the hill dweller's review on this one. no nor have the project members -- steve has eloquently given you purchase's position. nor as a past commissioner. you're a member of civic design for many years. i am currently a board member at renew sf and that opinion will be given by others. i'm here to support completion of the t-line from bayview to fisherman's wharf. as you say, that's not on your agenda today. that's really what this is all about. we have been working on that since the late 1960s. we have station designs from late 1967 offering the merchants of north beach rapid transit, grade separated service underground. four years ago we cautioned the central subway's engineers to avoid line and station construction that would obviously arouse strong
east, just in time for christmas. meteorologist julie marten is watching it all for us now from weather channel headquarters. julie, good evening. >> reporter: good evening, lester. the storm in california could bring a white christmas to parts of arkansas around oklahoma, places that haven't seen that happen in over 80 years. here's a look then. the system will spill out into the plains by christmas morning, dumping another foot of snow on the denver metro area by the holiday. now, starting in the predawn hours of christmas, we are looking at possible tornado outbreaks from south texas all the way to southwest georgia. watching that carefully. beyond that the storm moves to the northeast, potentially causing travel woes from nashville to cleveland and d.c. we do expect mostly rain wednesday into thursday as the system moves into new england, with snow on the back end of that. so, while the midweek travel will be tricky across the country, those conditions will improve by the end of the week as millions head home or elsewhere to ring in the new year. lester? >> that is good news. julie,
south asia correspondent julie mccarthy, who's reporting this story from delhi. jns julie, there are tens of thousands of rapes in end yabs, there are 40,000 rape cases currently-- currently in the courts. why has this case caught the national imagination? >> wbltion i think what cause the imagination of the people was this horrendous attack on this young woman that is 23-year-old girl who was-- who is at the heart of this upheaval in india. after the shock subsided there was anger and it poured out into the streets. so you had a very graphic symbol around which people rallied. and the protests in many ways were spontaneous. they were driven by the it revolution that is india. social media played a huge role in assembling people, getting out the message, what were they doing, where were they doing it. and prot testers were demanding sus 'tis for this young woman who they said was gang raped on a moving bus that passed through police check pointses that assault was taking place. so there was dismay of the police who had long been criticized on their infectioniveness on hand
south asia correspondent julie mccarthy, who's reporting this story from delhi. jns julie there are tens of thousands of rapes in end yabs, there are 40,000 rape cases currently-- currently in the courts. why has this case caught the national imagination? >> wbltion i think what cause the imagination of the people was this horrendous attack on this young woman that is 23-year-old girl who was-- who is at the heart of this upheaval in india. after the shock subsided there was anger and it poured out into the streets. so you had a very graphic symbol around which people rallied. and the protests in many ways were spontaneous. they were driven by the it revolution that is india. social media played a huge role in assembling people, getting out the message, what were they doing, where were they doing it. and prot testers were demanding sus 'tis for this young woman who they said was gang raped on a moving bus that passed through police check pointses that assault was taking place. so there was dismay of the police who had long been criticized on their infectioniveness on handling violent cri
feet off the ground. atlantis's last flight was in july of 2011. it was also the last of nasa's historic shuttle program, end of an era. the next time the public sees the spacecraft, it will be housed in a special museum at kennedy space center in florida. a grand opening is set for this summer, and who else would be there but our own john zarrella to bring us up to date on the project. whoa, do you look good. now, let me get this straight, john. this is a 180-foot-tall shuttle. it weighs more than 152,000 pounds. and it's shrink wrapped in plastic right now? >> reporter: yeah, it is. and you know, for the viewers out there, if you don't recognize what's there behind me, that's atlantis. in 16,000 feet of shrink wrap in order to protect it. you know, i've got the hard hat on. we're right here inside. there's guys working, building the museum around the shuttle atlantis as we speak, working nearly 24/7 to get ready for that grand opening. and you see the angle, alina, of how it is displayed here, supported on giant supports. that's a 43 1/2-degree angle. it is the angle that th
weekend. the weather channel's julie martin is at new york's laguardia airport. how bad is it right now, julie? >> reporter: right now we are getting a bit of a break, craig, but there is more to come with this system. it is just now a little bit south of the new york city metro area. i'm at laguardia, and i can tell you we've seen 50 or so cancellations as of this morning and this afternoon, but more likely to come as the snow really starts to work its way into the city this afternoon and this evening. we're looking to pick up anywhere say one to three inches in manhattan and some of the higher elevations like the hudson valley and you could be looking at anywhere from 6 to 8 inches and cities like boston are going to get socked this evening and we could see anywhere up to a foot of snow in the boston area so certainly travel in and out of logan is not going to be too keen by the time tomorrow morning rolls around if you are trying to get there for the holiday destination for the new year. here in new york it's not as big of a storm as we saw in the past week where we saw hundreds of d
of 100 on the f.d.a. shortage list. >> axelrod: jon, congress passed legislation last july giving the f.d.a. more authority to deal with cancer drug shortages. i'm wondering what's become of that. >> reporter: jim, that new law has made a big difference, and the key provision is the requirement that drug manufacturers let the f.d.a. know when there's an impending shortage. since that new law has passed, there has been a doubling of the notifications. the f.d.a. can increase imports from abroad and tell other manufacturers in the united states to step up production. so it's made a big difference. now, another provision in that law is that the f.d.a. set up a task force looking at other possible solutions to the drug shortage crisis, and they're required to submit that report to congress by this coming july. >> axelrod: dr. jon lapook, thank you. china now has the longest high- speed train line in the world. it runs 1,400 miles from beijing to the city of guangjo, about the distance from new york to miami. the chinese train can make the trip in eight hours. it would take amtrak 30 hours.
. on the consumerwatch, julie watts says that people who borrowed money from a company called check and go may actually be entitled to thousands of dollars each. julie. >> reporter: that's right. refunds in this $4.3 million settlement are expected to range anywhere from $20 to $4,600 per person. but to qualify, you must have borrowed money from check and go online. now, at a press conference today san francisco city attorney dennis herrera said check and go skirted california law by preying on the most economically vulnerable and charging interest rates as high as 400%. >> they partnered with an out- of-state bank to essentially say that we are no longer subject to the limits of 36% apr that's set in california law so as part of the settlement that we have negotiated with them they have agreed to abide by california's limits. they have discontinued that relationship with the out of state bank. and they also have established this settlement fund. >> reporter: now, to qualify for a refund you must have taken out a four-month installment loan through one of three affiliated websites between november 2006
lost 158 points today. its five-day losing streak is the longest since july. the nasdaq and s&p 500 also closed down. >>> police pulled over a bmw for speeding. but before the officer could walk up to write the ticket, the driver floored it and tried to get away. moments later, the bmw slammed into another car a few blocks away from bishop o'dowd high school. cbs 5 reporter da lin tells us an innocent person was killed because of another's recklessness. >> reporter: it started at 98th and bancroft. two chp officers patrolling the streets of oakland pulled over a bmw for speeding. the driver initially stopped but once the officers got out of their car, investigators say the bmw sped away. less than a mile away, the chp says the driver of the silver bmw m6 broadsided a black lincoln on 98th avenue. the impact killed a passenger in the sedan. investigators say the woman was in her early 20s. four other people inside the lincoln suffered from minor to serious injuries. witnesses say the impact could be heard from blocks away. >> a big noise. boom. >> reporter: the chp says after the cra
for. >> -- list who is impossible to shop for. >> cbs 5's reporter julie watts that won't break the bank and won't reveal that you waited until the last minute. >> i always wait. >> as last minute shoppers rush to check off their list it seems everyone has someone who is nearly impossible to shop for. >> my dad. >> my younger daughter. >> because you never know what the hell they want. >> we have come up with a few last minute gift ideas. first up, the aquaponics garden. >> it would be perfect for anybody, whether it was my dad who loves to cook to my little 7-year-old nephew who is obsessed with science. >> a segment on the creator. because the hot item is back ordered, forget about rush deliverly. print the ecard and your gift is ready to go. >> it can charge your phone, light or other gadgets. >> the bio light camp stove gained popularity after hurricane sandy enabling people to charge their phones. great for anyone who lives in earthquake country. it is also back ordered and comes with a digital gift tag for last minute holiday orders. >> finally, a juicer but better. no sug
sides. joining us now from new york, julie riganski, a democratic strategist and here in washington, steven moore, a member of the "wall street journal" editorial board. sesteven, let's start with you. great to hear harry reid on this. the last time i checked the do so called proposal that a he put forth in july didn't really receive any support and only dealt with tax increases. it wasn't a comprehensive deal and didn't involve real spending cuts it was just raise tax and it went no where. for him to blame republicans, come on. >> don't forget, it has been 13 hyundais since hair arery reid even passed a budget out of the united states senate. we don't even know what the united states senators stand for in terms of the budget debate. the same thing on taxes. the house actually passed a lot of people don't know that earlier this year the house passed a bill to extend all of the bush era tax cuts for another year until resolve the issue. the senate again didn't act on that. the grave yard of the items are the united states senate. the other thing interesting harry reid said the presid
in july, early july, and today we're up 3.7% at 1928. however, look at a one--year chart of the dow comparing it to the vix. what often happens is when the vix peaks as it did in june and july, that can mark a bottom in the stock market so we're starting to move up again. i'm just saying. not trying to forecast anything and here's what happened today at the dow, sort of falling off here in the latter part of the hour but not off. off the lows of the day. down 21 points. material stocks were the strength today. up 1.5%. everybody else was either unchanged or lower. what do you make of the increased volatility or increased fear here, david darst, as we go into the end of the year? >> one of the best charts is the vix being high. it was a time to buy. in chicago that's a famous saying. when the vix is high it's time to buy. >> we high enough yet? >> not yet, not yet. got the fiscal cliff issues which you've talked about a lot here. >> yes, we have. >> jobs coming out on friday. morgan stanley looking for 185,000. basically the housing market, you had the case schiller numbers today. it
, the hollywood battle of spitfires and everything began in bid july, july 10 officially. host: of 1940. guest: of 1940. that is when the invasion scare began. the germans were soften up for the final blow which churchill never believed was coming. never for a minute did he believe the germans would invade. but he had to pursue the invasion scare tactic in order to build up his armies and get more planes and get equipment from the u.s., which was dragging its feet. the final plan, the german plan, would be to soften air bases then in lit august or september crush the remnants of the r.a.f. it was a good plan but it wasn't working and goring got hitler's permission to bomb the ports. bombing was so ineffective on both sides that meant they would be bombing houses. they did. and churchill said give it back to them. that was the beginning. so, the blitz starts on september 7, i think, the evening. and germans came 81 of the next 82 nights or something like that. and the terror bombing they feared and predicted began. and there was no stopping the bombers. host: how many were killed and how many w
with those marines. he took leave the first of july and secretly married theresa. july 10 was the last time i saw him. he arrived in afghanistan the end of july and wrote these final words in his journal on august 2. mom, dad, i can never repay you for all you have done for me. you made me into the man i am today. i hope that i have made you proud. that has always been my goal. i love you both so much. tell the girls i love them and couldn't be prouder older brother. i have always tried to be an honorable man and i truly believe in what we are doing here. i am doing this for my family so that they need not fear. my country so that can be a beacon of light for the entire world. the men around me because no one could ask for it better company than the u.s. armed forces and finally, i do this for myself so that i might know the measure of myself and in and not be found wanting. i believe that it is my duty to fight and having done all that i can to simply stand against this and all the evil work that is upon this earth. he called me on the fifth and said, the people are so nice and the kids are
on july the 25th the democratic bill is, quote, a revenue measure that didn't originate in the house so it's got no chance whatsoever of becoming law, end quote. that's what i said back on july 25th. the only reason we ever allowed that vote on that proposal, as i said at that time, was that we knew it didn't pass constitutional muster and that democrats were really serious they would proceed to a revenue bill that originated in the house, as the constitution requires, and as i called on them to do again last week. to repeat, the so-called senate bill is nothing more than a glorified sense of the senate resolution so let's put that convenient talking point aside from here on out. last night i told the president we'd be happy to look at whatever he proposes, but the truth is we're coming up against a hard deadline here, and as i said this is a conversation we should have had months ago. and republicans aren't about to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. that wouldn't be fair to the american people. that havin
ever youtube video to be viewed 1 billion times. billion with a "b." >> it was posted back in july. been viewed between 7 million and 10 million times every day. >> one reason for the success, a huge number of gangnam style versions posted on youtube as well. psy, take us to break, son. ♪ oh. right. kay. [ female announcer ] it's true, every kiss does begin with kay. introducing shades of wonder, featuring rare, natural color diamonds from australia. at kay, the number-one jewelry store in america. ohhhh. right. ♪ every kiss begins with kay ohhhh. right. we're spreading the word about honey bunches of oats fruit blends and their unique taste combinations. like peach/raspberry. with one flavor in the granola bunch and one on the flake. two flavors. in harmony. honey bunches of oats. make your day bunches better. it just wouldn't go away. my doctor diagnosed it as fibromyalgia, thought to be the result of overactive nerves that cause chronic widespread pain. lyrica is believed to calm these nerves. i learned lyrica can provide significant relief from fibromyalgia pain. and for so
for complaining. he's been unemployed since july and says repeatedly being told to call back is from us stating. >> if you don't make it through if you don't contact them they will make the decision based on the information they have which will go prawm bring against you. >>reporter: june and dave are actually calling different phone systems. run by the same state agency. the employment development department. >> the people in government they must be aware of the problem and they appear to be ignoring the problem. >>reporter: they do know. state awed tonight march 2011 first out hin the problems in the unemployment phone system and follow-up audit last month confirmed the issues are very serious. of the 29.7 million calls in which individuals ask to speak with an agent, 24.9 million or 84 percent were unsuccessful. >> i think people have a lot of expectation that i call and someone is there to ns a.well there are finite resources of staff. >>reporter: edd spokesperson says budget limitation and the volume of calls to the unemployment insurance line make it difficult to answer every call.
streak is the longest since july. the s&p 500 also closed down. >>> going over the fiscal cliff will have several impacts on your wallet. a 2% payroll tax cut and a series of other temporary tax cuts will expire, along with other credits and deductions. your grocery costs, especially for dairy products, could suddenly skyrocket. federal long-term jobless benefits would expire. but the price of gas could actually go down because of the declining demand. another tax you'll see rise is the estate tax. cbs reporter john blackstone shows us how tumbling off the fiscal cliff could destroy the legacy of a napa valley vineyard. >> reporter: when his great grandfather started farming her in the late 1800s... >> they farmed orchard fruit and cattle. >> reporter: but much of the land he grew up on is gone, sold, to pay estate taxes after his grandfather's death. >> had to sell all of it. >> estate taxes? >> yes. >> reporter: his grandfather died in 1972 when estate taxes were at an all-time high, 77%. >> it was a big tax bill. it was, you know, half a million dollars. we sold off 150 acres. it gave
't happen. senate so there's nothing for the house to vote on. as i pointed out july 25th. democratic bill is, quote, a revenue measure that didn't originate in the house so it's got no chance whatsoever of that's what i said july 25th. the only reason we ever allowed that vote on that proposal is i said at that time, we knew it didn't pass constitutional muster. and if democrats were really serious, they had proceed to a revenue bill that originated in the house as the constitution requires, and as i called on them to do again last week. to repeat, the so-called senate bill is nothing more than a glorified sense of the senate resolution. let's put that talking point aside. last night i told the president we'd be happy to look at whatever he proposes but the truth is we're coming up against a hard deadline here and, as i said, this is a conversation we should have had months ago. republicans aren't about to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. that wouldn't be fair to the american people. that having been sai
and that the speaker was offering him that you had to raise rates. obama himself, as you know, said last july, july, 2011, you can get $1.2 trillion by eliminating loopholes, which is exactly what republicans offered him. so why did he insist on the rates? he said that is what he will insist upon, and that was the ultimatum. he did that because he knew it would create a crisis among the republicans and it did. so right up until now obama has what he wanted, which was a partisan, political success. he's been less worried about the fiscal issue for two reasons. number one, he does not care about debt. he hasn't in the four years. and number two, he thinks he's a political winner if we go over the cliff. he thinks he's holding all the cards. >> all right. charles, let me agree with one point. you use the term, and i will concede that's the perfect term, ruthless skill. but, as bob woodward pointed out when he wrote this book about the grand bargain negotiations, it's not going to be looked at through this historical prism as the boehner era, this is the obama e.r.a. if the economists are right and thi
back in july with the threshold of those tax hikes being at the $250,000 level. and that they could kind of say to the house, now the ball is in your court, you have to deal with this, it's still very much a possibility, don, that this doesn't work out, that we go over the fiscal cliff, and that was reflected today on the sunday shows from both democrats and republicans, take a listen. >> passing plan b the other night would not have changed the outcome, we're going to go over the cliff before, we're going to go over the cliff now. you cannot negotiate with someone that doesn't want to negotiate. >> in the aftermath of the house republicans rejecting speaker boehn boehner's plan b, i feel it's more likely we will go over the cliff than not, and that -- if we allow that to happen, it will be the most colossal consequence shall act of congressional irresponsibleability in a long time. maybe ever in american history. >> officially, the president is expected to be here -- or is supposedly here in hawaii through the new year, i think the expectation at this point is that with congress re
in that we have the faces received that the congress result of independence fourth of july and have declared war. two issues later the one of the principal text of the declaration. here's a january 23rd, 1777 issue. since printed in boston. this is the front page account of george washington crusting the delaware. bruce chadwick contributed the essay in trenton and princeton, the phrase washington years that they surrendered because they were about to be cut to pieces. it was somewhat harsh language to come from the future president. we also read in the newspapers about john paul jones, the first naval hero. during the account, you read of what is in essence a fashion reporter. paula jones, who is dressed in a short jacket and long trousers with a definite edge was fun and about around his middle. decisions about areas. john paul jones is the mortal words have not yet begun to fight. turns out he likely didn't say that and what he probably said this was printed, in this case thea read the quotes him as saying i may think, now began to face her. saratoga, turning point of the war. i was struc
been delayed at laguardia airport now, -- we have julie martin with us. >> reporter: we are getting a break, we have seen snow and a bit of sleet, visibility is one of the big issues and we are down to about a mile or so. not the greatest situation, but one thing helping the flights and the pilots are the winds. the winds are not all that strong. so fortunately the flights have been able to come and go, but we are seeing the delays starting to mount a bit. overall here in new york and new jersey, we have seen 197 flights cancelled and hundreds of delays at the three airports but here at laguardia, not all that bad considering what we experienced a couple of days ago with the last system that came through cancelling thousands of flights and stranding hundreds of pass enerr js. so, at this point, it's a wait and see, we could get a bursts of snow coming through the tri-state area later this evening and the winds will continue to pick up. i expect travel conditions to worsen as the afternoon and night goes on. craig? >> julie martin, braving the elements, we appreciate it. thank you. s
a bill exactly like this sitting in the united states senate. harry reid passed it back in july, and republicans refused to vote on it. boehner, why don't you vote on that? the time for complaining about this deal, totally over. >> nobody can get 100% of what they want, and this is not simply a contest between parties in terms of who looks good and who doesn't. >> don't you think republicans need to be careful about pushing back on this for the good of the country? if no deal is struck this year, president obama, what does he have? well, he's got the inauguration coming up. a big platform. he's got the state of the union address coming up. a big platform. he is going to have a better chance to have the american people on his side. president obama urged all members of congress to get some perspective over the holiday weekend on this. >> everybody can cool off. everybody can drink some eggnog, have some christmas cookies, sing some christmas carols, enjoy the company of loved ones, and then i'd ask every member of congress while they're back home to think about that. think about t
in july and for december 72 points. in july, it was 82. so we're seeing the sentiment decline over the last couple of months. also, consumer confidence at the lowest it's been in five months so really seeing that kind of permeate over the last couple of months and especially goins forward and we have also seen some mild weather over the last couple of months so especially in the midwest and the northeast so i think that's going to have something to do with the fact consumers aren't spending that much. >> you would think that because thanksgiving, we think back to november, fell earlier this year. >> right. we had more time to spend. >> we had more money spending and would think that the number would be a little fluffier. >> you would think. think about what was happening in those 31 days where people supposed to spend. people were recovering from sandy. all we have been bombarded with is negative news and newtown and i think weighing on the minds of the american consumer more than we think. >> thank you. appreciate your time. >>> president obama in hawaii with his family and fiscal
level since late july, remember when volatility is up, it usually means the market is down. for five months the vix has traded below its two decade historical average of 20. longest such streak in more than five years. but over the last month, it has rallied about 23%. but ending down for the day. shibani: a lot of uncertainty in today's markets. with the markets bouncing back and bouncinn around surrounding fiscal cliff talks and the clouds overhead, wouldn't it be nice to take a vacation, even better, one that's priced well, a bargain. coming up travelocity senior editor lets us in on deals for new year's eve and what's going to be hot for 2013. looking forward to that. david: we just found out we will probably be working on new year's eve and so are the people in the white house. the president is back there, trading the heat of the sun in hawaii going to the heat in washington. steve forbes will be coming up later in the hour. shibani: we will tell you what drove the markets today with today's data down load. stocks gaining momentum in the last hour of trading crawling back from t
strategist and a former campaign aide for president george w. bush, julie roginsky is former political adviser to new jersey senate frank lautenberg. good to see you both. >> good to see you. gregg: didi, smoot-holly was passed decades ago for the purpose of putting tariff limits on incoming products. do we need to reexplore that? >> yeah. this was, this was back in the '60s. i mean, this was ancient history. why should these workers who get paid very well also get on top of that the booty of $15-$16,000 more. for what? this is just an extra fee and extra goodies per container. what this was back in the '60s was a way to help there be more workers, it was a deal done with the unions and the ports so they wouldn't use as much equipment and so they wouldn't be as efficient so they could keep their union workers. it's outdated, and it's wrong and, really, it's terrible -- gregg: julie, what do you think? >> i think if we're talking about smoot-holly which is a different issue just raised by didi, but, yeah, i think the president will probably intervene, and he did last time on the west co
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